Greater than a dozen new cryptocurrency-focused exchange-traded funds (ETFs) reportedly might be launched in 2025, in the event that they’re accredited by the Securities and Exchange Commission.
ETF corporations have submitted that many filings with the SEC, Bloomberg reported Thursday (Jan. 2).
The proposed merchandise described in the filings embody a ProShares ETF that may denominate the S&P 500’s return in bitcoin; Strive Asset Management and REX Shares funds that may provide publicity to convertible bonds issued by corporations to purchase bitcoin; and Volatility Shares inverse and leveraged Solana funds, in response to the report.
Bloomberg Intelligence’s Athanasios Psarofagis mentioned in the report that these filings present “the continued evolution of launches to include crypto methods into ETFs.”
“We’ll see a number of these in 2025,” Psarofagis mentioned, per the report. “It’s the recent factor — issuers like to strike when the theme is sizzling. We’ll see crypto every thing.”
The report got here a couple of yr after the SEC accredited bitcoin ETFs following years of opposition to doing so.
SEC Chairman Gary Gensler mentioned on the time in an announcement that the SEC’s approval applies solely to bitcoin and shouldn’t be seen as a sign that the regulator is able to approve different listed securities.
“Whereas we accredited the itemizing and buying and selling of sure spot bitcoin ETP shares at the moment, we didn’t approve or endorse bitcoin,” Gensler mentioned. “Traders ought to stay cautious concerning the myriad dangers related to bitcoin and merchandise whose worth is tied to crypto.”
The approval was heralded by figures all through the cryptocurrency sector.
Sui Chung, CEO of Kraken-owned CF Benchmarks, instructed PYMNTS in an announcement posted Jan. 11, 2024: “A spot ETF has all the time been vital as a result of it stands to open bitcoin up to a much wider swathe of traders. We sit up for working with asset-allocators as they incorporate this new asset class into their portfolios and fashions, considerably growing the variety of traders who might have BTC publicity.”
President-elect Donald Trump’s win in November sparked a crypto rally as a result of Trump is seen as a extra crypto-friendly candidate, standing in distinction to President Joe Biden’s efforts to crack down on the trade following some high-profile scandals.
